Economic Affairs Secretary Ajay Seth expressed confidence in the non-inflationary Budget proposals, stating that they will contribute to achieving a 7%+ growth rate in 2024-25. The Indian economy rebounded with a growth rate of 9.1% after contracting 5.8% in 2020-21. The government has increased capital expenditure by 11.1% for the next fiscal year. Seth also mentioned that fiscal deficit is expected to moderate to 5.1% in FY25, thanks to tax buoyancy and realistic expenditure estimates.
Reserve Bank of India known as RBI is India's central bank that can issue banknotes in India, apart from the government. The bank has a total of 31 branches in India.
The forum is likely to witness in-person participation by 300+ CXOs with strong online participation from India and global audience from over 20 countries, including the US, the UK, Singapore, South Africa, the UAE, Australia, and Germany, the ministry said
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